The CEO of Fold, Will Reeves, asserts that Bitcoin's rise is not merely a short-term phenomenon; it reflects a profound transformation that is restructuring the entire cryptocurrency market.
In a recent interview, Reeves emphasized that the increasing interest from institutions and Bitcoin's limited supply are key factors driving the sustainable dominance of this asset.
He believes that the price growth of Bitcoin to new highs is a result of a "supply shock" stemming from the increasing demand from large-scale investors. The launch of spot ETFs and the growing number of companies holding BTC in their treasuries have opened the door to mainstream capital, according to Reeves. As new financial vehicles bring millions of dollars closer to Bitcoin, it is entirely reasonable for its price to rise.
However, Reeves does not stop at price movements. He warns that Bitcoin's expanding market share is creating a one-way street, making it difficult for most altcoins to keep up. With Bitcoin's market dominance nearing 65%, he argues that this asset is solidifying its position as a core pillar in the cryptocurrency ecosystem.
In contrast, he points out that alternative tokens remain highly speculative and lack the credibility and utility necessary to compete with Bitcoin in the long run. While many projects are still striving to prove their worth, Bitcoin stands out as a globally neutral asset, having been tested over time and trusted by institutions.
At the time of writing, Bitcoin is trading above $119,000, remaining stable throughout the day. Its dominance in the market continues to rise, indicating that the broader market may increasingly revolve around a single leading digital asset.
